Vitamin E market size is expected to exceed USD $2.4 billion by 2024, according to a new research report by Global Market Insights, Inc.
Increased consumer affordability coupled with rising health concerns should drive global vitamin E market size. Rising applications scope in pharmaceutical industry for treating Alzheimer's infection, diabetes, night cramps, Parkinson's disease, epilepsy, traumatic brain injury, multiple sclerosis, cerebral palsy and Huntington's disease, is evaluated to fuel industry development.
Rich food sources include vegetable oils, sunflower seeds, peanuts, broccoli, spinach, and avocado. Naturally sourced products are gaining wide acceptance in anti-aging creams, lotions, sunscreens, lipsticks, and creams.
U.S. vitamin E market size for functional food & beverages was worth over USD $50 million in 2015. Rising concern to maintain immunity and health along with increasing consumer preference for functional foods will benefit the industry growth. Rising health care cost is among the key reasons fueling dietary supplement demand in U.S., Germany and U.K.
Cosmetic applications accounted for more than five percent of the total demand in 2015 and are likely to witness fastest growth. Cosmetic industry is projected to be an attractive application segment owing to its essential properties including improvement in UV protection and moisture content. It also helps in increasing sunscreen ingredients effectiveness and preventing melanin deposits.
Initiatives from the government to create awareness toward "green" and "eco-friendly" and additionally "healthy" procedures, which are related to "organic" or "natural" products, may favor the vitamin E market share.
Rising regulatory compliances pertaining to toxic chemical additives inclusion in personal care and food and beverage products should fuel product demand. Raw material shortage along with supply demand imbalance may impact vitamin E market price trend.
For more information, visit www.gminsights.com.